What the children are telling Santa: The most popular gifts children are asking for this holiday season are video games, according to a national survey of mall Santa Clauses. About 400 Santas were polled by the International Council of Shopping Centers and Cherry Hill Photo, which specializes in holiday pictures. Santas also gave the most unusual gift requests they heard from boys and girls—including one child who asked for concrete blocks to build a real house and a boy who asked for a live pig.
Surging exports: The U.S. trade deficit unexpectedly narrowed in October as exports surged to the highest level in nearly a year. Growing exports, boosted by a weaker dollar, are expected to boost demand for American manufactured goods in coming months and provide important strength to the overall economic recovery. The Commerce Department says the trade deficit fell to $32.9 billion in October, 7.6% below a revised September deficit of $35.7 billion. Economists had expected the deficit to increase to $36.8 billion. The improvement reflected a 2.5% jump in exports, led by strong gains in sales of American farm products, autos, aircraft and industrial machinery. Imports rose only 0.4%, a gain that was held back by a big drop in oil imports. The politically sensitive deficit with China rose 2.5% to $22.7 billion, the highest level in nearly a year, even though U.S. exports to China hit an all-time high.
